MAKE THE MOST OF Taxi Services – Read These 6 Tips

The most valuable thing in our life is time. In the present day rhythm, it is so vital that you keep up always and everywhere. We understand why perfectly, so we suggest you never to postpone important trips ?for later?, but to dial the Nikolaev taxi number and become in the proper place at the proper time.

Our service Nikolaev taxi is really a city carrier that offers you its cars night and day. Among our main advantages is a wide price range. You can order a comfortable VIP-class car or save your valuable budget by hitting the street on an affordable economy option.

You will be satisfied with the quality of services, because our taxi employs experienced drivers and polite dispatchers. Your order will be accepted accurately, a clean car with a heater, air-con, no cigarette odor will undoubtedly be quickly delivered to you, and safely delivered to your destination.

Taxi Running Costs

When completing the self assessment tax return taxi drivers should enter fuel costs in box 3.46 cost of sales not motoring expenses. A standard check completed by any competent inland revenue inspector enquiring right into a self assessment tax return would be to check when the taxi driver was on christmas and examine if fuel receipts have been included for this period.

Not many taxation statements are enquired into as the system is situated upon trust but taxi drivers should ensure their accounts do not contain this fundamental tax fiddle. Taxi running costs also include repairs, servicing and parts including tyres, road tax, taxi insurance and AA/RAC membership. Include radio hire and taxi office costs in general administrative expenses.

Household expenses

In the event that you run your taxi home-based business you can claim a proportion of household expenses as business expenses in the taxi accounts. Household expenses are likely to be disallowed unless they’re either specific to the business enterprise or a specific section of your property is devoted entirely to your taxi business. Using section of a room part time would not be sufficient to include the household expenses in the taxi driver accounts.

Spouse Costs

You can claim expenses for partners who work for your taxi business and payments up to 100 pounds per week would not attract income tax or national insurance however any payments claimed in the taxi driver accounts must be real payments for real work done. The Revenue naturally adopt a strict take on taxi expenses claimed for partner are it is an area some people might use to reduce the tax liability. Care is required to justify the partner as an expense.

Other Expenses

Enter all business expenses in a named expense box on the self assessment tax return. Avoid entries in box 3.63 Other Expenses if possible as any significant amounts in this box may give rise to an Revenue enquiry into the self assessment tax return.

The best approach to ensuring the taxi drivers tax bill is as low as possible in the future is without a doubt to meticulously maintain good records of all taxi receipts and expenses and mileage covered which offers the chance for taxi drivers to compare the taxi running costs against mileage allowances and pick the most tax efficient option. The decision to claim mileage allowance or taxi running costs can and often does change through the financial year.

In general when a more expensive taxi cab is purchased then your capital allowance of 3,000 pounds will most likely outweigh the potential mileage allowance although if the automobile is low value the mileage allowance may be the best option and a way of saving valuable tax pounds that you are entitled to. The very best taxi accounting software will automate the comparison of taxi mileage allowances with taxi running costs doing the taxi accountants do the job.

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